RBI denies Rumours on Axis Bank licence cancellation

By | December 12, 2016
(Last Updated On: December 12, 2016)

Date : Dec 12, 2016

The Reserve Bank of India today clarified that it has not initiated any action to cancel the banking licence of Axis Bank in the wake of certain allegations about some serious irregularities in transactions relating to deposit/exchange of Specified Bank Notes in a few branches of the bank. The clarification comes in the background of rumours in a segment of the media that the bank was likely to lose its banking licence.

Alpana Killawala
Principal Adviser

Press Release: 2016-2017/1487

Category: RBI

About CA Satbir Singh

Chartered Accountant having 12+ years of Experience in Taxation , Finance and GST related matters and can be reached at Email : Taxheal@gmail.com

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